Vyapar Suvidha (Loan For Traders)

Purpose

For working capital requirement and for acquiring/purchasing assets i.e. fixtures & furniture, office equipment etc. to be used in the business.

Eligibility:

All individuals, firms, companies, Regd. co-operative societies registered under MSME, Motor Vehicle trader –engaged in the line of business for a minimum period of 1 years and financed/proposed to be financed under sole banking arrangement.

New MSME units may also be considered, if unit is established by our existing customers having experience in the same line of activity with satisfactory track record.

Age :

Not Applicable

Maximum Amount of Finance :

For Metro and Urban: Rs.10.00 crores

Others: Rs. 5.00 crores

Margin :

i) On the surrender value of Life Insurance Policies, Face Value of Bank's own TDR's/ NSC's/KVP's/IVP's - 10%.

ii) On the value of Immovable property (Agricultural land not to be taken as security): 40%*

(*Gradual reduction in margin upto 25 % subject to satisfactory conduct of the account)

Features :

Term Loan OR Working Capital Term Loan up to maximum 20% of total limit sanctioned and remaining 80% in the form of Overdraft.

No personal guarantee is required.

Repayment period of 84 months for term loans and 12 months for overdraft (subject to annual review)